Asian Shares Rise as Fed Governor Cools Rate Hike Fears

Asian shares rose on Friday ahead of crucial US jobs data, while bonds found some relief after Federal Reserve Governor Christopher Waller's dovish comments cooled rate hike fears.

The dollar retreated, allowing the yen to gain 2.6% this week and approach the 155.2 level reached in late July following a joint intervention by Tokyo and Washington.

JPMorgan analysts noted that Waller's remarks pushed back against previous arguments made by Chair Warsh, who had said there was little evidence of underlying inflation moving lower.

US futures were less volatile ahead of the US payrolls report for August, which is expected to show a rise in 56,000 jobs after a shock fall of 23,000 the previous month.